Icon Realty pays $27M for ex-Ring building from Extell

The vacant 12-story office building was one of the few Barnett still owned in portfolio

New York /
Dec.December 07, 2016 02:30 PM

Terrence Lowenberg and Todd Cohen’s Icon Realty Management just picked up one of the former Ring portfolio buildings from Extell Development for $26.5 million.

Icon paid about $815 per square foot for the vacant 12-story, 32,500-square-foot office building at 30 East 23rd Street in the Flatiron District, property records filed with the city Tuesday show.

Representatives for Icon and Extell TRData LogoTINY couldn’t be reached for comment.

The 25-foot-wide building near Madison Square Park has small floor plates of roughly 2,500 square feet each.

The building is one of the few remaining properties Extell has held onto since snapping up the 14-building Ring portfolio in late 2013 for close to $450 million. Gary Barnett has sold off or ground leased most of the buildings.

Extell still owns 142 West 24th Street and 17 West 60th Street outright, and retains the fee position at 23 West 24th Street.


Related Articles

arrow_forward_ios
One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)
Extell lands $690M refinancing package for One Manhattan Square
Extell lands $690M refinancing package for One Manhattan Square
Extell Development's Gary Barnett (Credit: Getty Images and iStock)
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Chelsea residents paid Gary Barnett $11M to protect their views from a planned tower
Central Park Tower
Extell just went public with Central Park Tower listings
Extell just went public with Central Park Tower listings
Extell's Gary Barnett and 217 West 57th Street (Barnet by Paul Dilakian, Itrytohelp32, CC BY-SA 4.0, via Wikimedia Commons)
Barnett: Central Park Tower will fall short of $4B sellout
Barnett: Central Park Tower will fall short of $4B sellout
From left: Extell's Gary Barnett and JDS Development’s Michael Stern along with One Manhattan Square, The Narrows, and 111 West 57th Street (Extell, JDS Development, Getty Images, The Narrows Condo)
New development sales plummeted 30% in July
New development sales plummeted 30% in July
From left: Extell’s Gary Barnett and Landsea Homes' John Ho with 540 Sixth Avenue (Linkedin, Getty)
Gary Barnett sues developer for poaching his tenant
Gary Barnett sues developer for poaching his tenant
The New Kings of New York, Steve Ross, Gary Barnett, Ziel Feldman, Kent Swig, Dan Doctoroff
“What happened to Ziel Feldman reminds me of what happened to Kent Swig:” An interview with the author of “The New Kings of New York”
“What happened to Ziel Feldman reminds me of what happened to Kent Swig:” An interview with the author of “The New Kings of New York”
From left: Vorea Group’s Peter Papamichael, Turnbridge Equities’ Andrew Joblon and Chetrit Group’s Joseph Chetrit
Ranking New York’s most active developers
Ranking New York’s most active developers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...